Bitcoin (BTCUSD) is only 10 days before the month of September closes its 1M candle and not only has it rebounded aggressively on the 1W MA50 (red trend-line) but is also holding the Symmetrical Pivot Zone for the 7th straight month.
This Zone is critical because during the previous Cycle in late 2021 it served as Resistance and since the recent March 2024 break-out, it has been acting as Support.
The Bullish Legs on the 2-year Channel Up indicate that if this month closes above the Symmetrical Pivot Zone and inside the Channel Up, $100000 is well within reach, even by the end of the year. Especially after the market got what it wanted from the Fed yesterday (-0.50% Rate Cut).
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